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12 June 2012 |
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Bailout in Spain Leaves Taxpayers Liable for the Cost
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Mass media -
News Sala i Martín
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The New York Times
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Tags: Spain MADRID — After clinching a $125 billion bailout for Spain’s banks, Prime Minister Mariano Rajoy flew to Poland on Sunday for the Spanish team’s soccer match, declaring “this matter is now resolved." [...] “The Europeans wanted to put a firewall between Greece and Spain, but they’ve accelerated things in a way that doesn’t at all give confidence to the markets,” said Xavier Sala-í-Martin, an economics professor at Columbia University. Instead, he said, the deal “leaves the impression that everything was just improvised rather than planned properly.” [...]
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